Manufactures AC generators sold primarily to gas turbine, steam turbine and gas engine original equipment manufacturers (OEMs) for use in power generation applications including AI data centres, grid stabilisation, renewables and oil and gas. AC generators make up 97% of turnover, with the balance from motors, spares and a small EPC line. Consolidated FY26 revenue was ₹1,856.23 crore (standalone ₹1,736.67 crore, up 35% YoY), with EBITDA margin of 18.91% and PAT of ₹238.77 crore. A third manufacturing facility in Tumkur was recently commissioned, taking the workforce to 730 permanent employees plus 820 workers. Exports dominate the order book — 79% of FY26 order inflows and 67% of turnover spread across 113 countries — and the order book stood at ₹1,972.90 crore at year end. FY26 order inflow was ₹22.38 bn, up 51% YoY. Materials are the largest cost at 69% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing (100%), Engineering, Procurement and Construction (EPC) (0%). Capital-goods manufacturer of electrical generators; order-book driven and exposed to global power-generation capex cycles
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 797 | 872 | 1,001 | 1,279 | 1,856 |
| EBITDA (ex other income) | 99 | 132 | 167 | 231 | 330 |
| margin % | 12.5 | 15.1 | 16.7 | 18.0 | 17.8 |
| Owners' profit | 0 | 0 | 0 | 175 | 0 |
| EPS, as reported (₹) | 22.96 | 6.23 | 7.58 | 11.18 | 15.29 |
| ROE % · ROCE % | 13.4 · 17.4 | 16.0 · 17.5 | 16.8 · 22.8 | 20.3 · 26.9 | 22.3 · 30.3 |
| Debt / equity (x) | 0.13 | 0.00 | 0.00 | 0.01 | 0.02 |
| Cash from operations | 11 | 89 | 84 | 40 | 129 |
| Capex | (11) | (16) | (23) | (52) | (106) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 306 | 350 | 348 | 372 | 452 | 443 | 589 | 640 |
| Profit before tax | 56 | 60 | 70 | 67 | 82 | 78 | 99 | 117 |
| Net profit | 41 | 45 | 53 | 50 | 60 | 56 | 72 | 86 |
| EPS (₹) | 2.64 | 2.88 | 3.40 | 3.21 | 3.85 | 3.61 | 4.62 | 5.52 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ABB INDIA LIMITED | 1,54,136 | 51.6 | 16.50 | — | 23.0 | 10.2 | — | 15.2 |
| BHEL | 1,50,076 | 61.7 | 5.74 | 49.8 | 6.1 | 4.7 | 14.3 | 9.3 |
| CG POWER AND IND SOL LTD | 1,43,168 | 93.7 | 17.46 | 77.9 | 14.6 | 19.2 | 33.2 | 14.7 |
| SIEMENS LTD | 1,40,869 | 43.0 | 10.17 | 39.7 | 19.9 | 20.6 | 31.1 | 11.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 10 Sept 2026 · Shareholders approve promoter share issue and institutional placement plan | board shareholder meetings | medium | — | — |
| 10 Sept 2026 · EGM approves preferential share issue to promoters and QIP proposal | board shareholder meetings | medium | — | — |
| 25 Aug 2026 · Internal partner reshuffle in promoter LLP, no change in TDPS promoter stake | ownership changes | medium | — | — |
| 18 Aug 2026 · Newspaper publication of EGM notice | compliance | minimal | — | — |
| 18 Aug 2026 · TD Power Systems Q1 FY27: revenue up 74%, order book at INR22B | investor communications | medium | — | — |
| 17 Aug 2026 · TD Power Systems EGM Sep 10 - Rs 75 Cr Promoter Issue and Rs 600 Cr QIP | board shareholder meetings | low | — | — |
| 12 Aug 2026 · Earnings call recording for Q1 FY27 uploaded on company website | investor communications | low | — | — |
| 12 Aug 2026 · TD Power Systems files newspaper copies of Q1 FY27 results with BSE | compliance | minimal | — | — |
| 11 Aug 2026 · Board Meeting on Aug 14 to consider raising funds | fund raising | medium | — | — |
| 11 Aug 2026 · TD Power Systems Q1 FY27 Investor Presentation: Strong Growth | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| HITACHI ENERGY INDIA LTD |
| 1,40,200 |
| 121.8 |
| 27.09 |
| — |
| 19.1 |
| 24.7 |
| — |
| 16.9 |
| GE VERNOVA T&D INDIA LTD | 1,16,454 | 89.2 | 43.29 | — | 45.8 | 57.9 | — | 27.4 |
| SIEMENS ENERGY INDIA LTD | 1,13,147 | 76.0 | 23.51 | — | 14.3 | 15.8 | — | 25.9 |
| SUZLON ENERGY LIMITED | 60,678 | 19.4 | 6.41 | 18.8 | 33.4 | 22.7 | 38.0 | 16.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 45.6 | 35.1 | 21 of 34 | 39% |
| P/B | 11.7 | 5.7 | 25 of 33 | 25% |
| ROCE | 30.1 | 16.6 | 7 of 36 | 83% |
| ROE | 22.3 | 14.6 | 10 of 35 | 74% |
| Debt / Equity | 0.0 | 0.1 | 15 of 35 | 59% |
| EBITDA margin | 19.4 | 16.4 | 14 of 35 | 62% |
| Revenue growth | 72.1 | 17.7 | 2 of 33 | 97% |
| Profit growth | 72.3 | 6.7 | 7 of 32 | 81% |
| Market cap | 12541 | 7198 | 14 of 35 | 62% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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